The European Union App Economy
In 2019, the app economy generated €187 billion of revenue in the European Union’s (EU) economy and supported up to 1.7 million jobs in all sectors. The app economy added 0.4 percent in value to the EU’s GDP in 2019. These are just some of the findings from the study, “The App Economy in the European Union: A review of the mobile app market and its contribution to the European economy” commissioned by ACT | The App Association and prepared by Deloitte Finance.
Key Takeaways
The app economy generated €187 billion in direct and indirect revenues in the EU
Key Takeaways
Direct revenues for app developers amounted to €86 billion
Key Takeaways
The app economy created between 1.3 million and 1.7 million jobs throughout all sectors
Key Takeaways
Mobile app stores have a positive impact on the EU’s digital economy by reducing transaction costs and market entry barriers, while increasing competition, consumer trust, and security
Key Takeaways
New products and services offered via apps increase consumer choice and their well-being
Key Takeaways
Apps will permeate more and more aspects of our lives, in areas such as the internet of things (IoT), mobility, hybrid events, education, and healthcare
“Apps have fundamentally reshaped the way Europeans interact in almost all areas of our personal and professional life,” said App Association Chairperson and Founder Mike Sax. “App makers are in a unique position to provide innovative solutions that positively impact society. For example, during the COVID-19 pandemic, apps have played a crucial role in education, work and health. The app economy has become essential in supporting economic and job growth across the European Union.”